Odyssey Marine Exploration Secures Strategic Debt Financing Deal - Seite 2

"As the lead litigation funder in Odyssey’s NAFTA arbitration claim, Drumcliffe is pleased to contribute additional capital to the company in order to support their pursuit of justice. We continue to believe in the strong merits of the claim and Odyssey’s entitlement to compensation as the result of Mexico’s arbitrary and unfair treatment in breach of international law,” added James C. Little, CEO of Drumcliffe, “We look forward to the arbitration panel’s decision in early 2024.”

The agreement provides for the issuance of promissory notes with an 11.0% annual interest rate, totaling up to $6.0 million, and warrants that allow them to purchase shares of Odyssey's common stock over the next three years. Odyssey will use the funds acquired through this facility for various purposes, including supporting day-to-day operations, covering general corporate expenses, and managing fees associated with the agreed-upon transactions.

About Odyssey Marine Exploration

Odyssey Marine Exploration, Inc. (Nasdaq: OMEX) is a deep-ocean exploration pioneer engaged in the discovery, validation, and development of subsea mineral deposits in a socially and environmentally responsible manner. Odyssey provides marine services for private clients and governments interested in exploring their Exclusive Economic Zone (EEZ) to survey, map, and identify any potential mineral resources. The company focuses on the exploration of polymetallic nodules (battery metals to power the future) and subsea phosphate deposits (fertilizer to feed the future), which the company believes will provide a benefit to society now and in the future, For additional details, please visit www.odysseymarine.com.

Forward-Looking Information

Odyssey Marine Exploration believes the information set forth in this Press Release may include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. Certain factors that could cause results to differ materially from those projected in the forward-looking statements are set forth in "Risk Factors" in Part I, Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2022, which was filed with the Securities and Exchange Commission on March 31, 2023. The financial and operating projections as well as estimates of mining assets are based solely on the assumptions developed by Odyssey that it believes are reasonable based upon information available to Odyssey as of the date of this release. All projections and estimates are subject to material uncertainties and should not be viewed as a prediction or an assurance of actual future performance. The validity and accuracy of Odyssey's projections will depend upon unpredictable future events, many of which are beyond Odyssey's control and, accordingly, no assurance can be given that Odyssey's assumptions will prove true or that its projected results will be achieved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231204703726/en/

The Odyssey Marine Exploration Stock at the time of publication of the news with a raise of +1,71 % to 3,56EUR on Nasdaq stock exchange (04. Dezember 2023, 23:20 Uhr).